XMPTVanEck CEF Muni Income ETF
Fund Description
The VanEck CEF Muni Income ETF (XMPT®) seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of S-Network Municipal Bond Closed-End Fund Index (CEFMXTR), which is intended to track the overall performance of the U.S.-listed closed-end funds that invest in U.S. dollar denominated tax-exempt market.
-
Fund Ticker
XMPT -
Exchange
Cboe -
Inception Date
07/12/2011 -
ETF Structure
Physical -
Administrator
Van Eck Associates -
Index Ticker
CEFMXTR -
Index Rebalancing
Quarterly
as of 03/20/23
-
30-Day SEC Yield1
4.95% -
Total Net Assets
$188.8M -
Number of Holdings
56 -
Options
No -
Gross Expense Ratio2
1.81% -
Net Expense Ratio/TER2
1.81% -
Distribution Frequency
Monthly -
Next Distribution Date
03/31/2023
Key Documents and Links
Investment Professionals
Peter Liao, CFA
- Portfolio Manager and Head of Equity ETFs
- Oversees the Equity ETF Investment Management Team including development and management of index replication and optimization strategies
- Joined VanEck in 2005
- CFA charterholder; member of the CFA Society New York
- BA, Mathematics and Economics, New York University
Daniel Cho
- Associate Portfolio Manager for Fixed Income ETFs
- Joined VanEck in 2013
- Prior to his current role, held a portfolio administration position for the firm’s alternative investment funds
- MS, Finance, University of Rochester
- BS, Information Sciences and Technology, Pennsylvania State University
Stephanie Wang
- Deputy Portfolio Manager for non-taxable Fixed Income ETFs
- Oversees quantitative analysis and optimization processes for the fixed income ETFs
- Joined VanEck in 2016
- Prior to her current positions, served as quantitative analyst
- CFA charter holder; member of CFA Society New York
- MS, Financial Engineering, Baruch College; BBA, Finance, Baruch College
Jared Model
- Senior Trader, Portfolio Analyst for Fixed Income ETFs
- Joined VanEck in 2017
- Previously, Trader at Beck, Mack & Oliver LLC and monitored markets and executed equity and fixed income trades and Fixed Income Operations at Gleacher & Company Securities, Inc.
- MBA, Finance, Montclair State University
- BS, concentration in Accounting and Finance, minor in Computer Science, University of Vermont
Fund Highlights
- Potential High Level of Tax-Exempt Income
A portfolio of municipal CEFs that may produce yields higher than most other fixed income investments - Diversification by Asset, Strategy and Manager
Reduced single fund risk with a portfolio of CEFs managed by leading active fixed income managers - The Discount Advantage
Index assigns a greater weight to CEFs trading at discounts, potentially enhancing yield and the opportunity for capital appreciation
Yields
as of 03/20/23
-
30-Day SEC Yield1
4.95% -
Distribution Yield1
4.03% -
12-Month Yield1
4.93% -
Taxable Equivalent 30-Day SEC Yields1a
-
12% Federal Tax Rate
5.63% -
22% Federal Tax Rate
6.35% -
24% Federal Tax Rate
6.51% -
32% Federal Tax Rate
7.28% -
35% Federal Tax Rate
7.62% -
37% Federal Tax Rate
7.86%
Fees and Expenses2
-
Management Fee
0.40% -
Other Expenses
-- -
Acquired Fund Fees and Expenses
1.41% -
Gross Expense Ratio
1.81% -
Fee Waivers and
--
Expense Reimbursement -
Net Expense Ratio/TER2
1.81%
2 Van Eck Associates Corporation (the “Adviser”) will pay all expenses of the Fund, except for the fee payment under the investment management agreement, acquired fund fees and expenses, interest expense, offering costs, trading expenses, taxes and extraordinary expenses. Notwithstanding the foregoing, the Adviser has agreed to pay the offering costs until at least September 1, 2023.
Trading Information
-
Fund Ticker
XMPT -
Index Total Return Ticker
CEFMXTR -
NAV
XMPTNV -
Intraday NAV (IIV)5
XMPTIV -
Shares Outstanding
8,875,000 -
Estimated Cash
XMPTEU -
Total Cash
XMPTTC -
CUSIP
92189F460 -
ISIN
US92189F4607
Fundamentals4 as of 03/20/23
-
Yield to Worst
7.03% -
Yield to Maturity
7.61% -
Effective Duration (yrs)
12.11 -
Duration to Worst (yrs)
12.95 -
Modified Duration (yrs)
16.43 -
Spread Duration (yrs)
12.30 -
Years to Maturity
19.37 -
Coupon
4.61%
Premium/Discount: CEFs Held by XMPT
as of 03/20/23
Daily Download This chart does not represent XMPT's premium/discount. It represents the weighted average premium/discount of the underlying closed-end funds (CEFs) held by XMPT. There are many factors that influence the up-down movement of a closed-end fund's share price, such as the fund's yield, performance, and investor demand.
Performance History: Average Annual Total Returns* (%)
1 MO | 3 MO | YTD | 1 YR | 3 YR | 5 YR | 10 YR |
LIFE 07/12/11 |
|
---|---|---|---|---|---|---|---|---|
XMPT (NAV) | -5.28 | -2.86 | -0.57 | -16.48 | -4.75 | 0.87 | 1.79 | 3.55 |
XMPT (Share Price) | -5.43 | -2.83 | -0.56 | -16.21 | -4.74 | 0.89 | 1.81 | 3.54 |
CEFMXTR (Index) | -5.25 | -2.77 | -0.50 | -16.13 | -4.35 | 1.28 | 2.16 | 3.93 |
Performance Differential (NAV - Index) | -0.03 | -0.09 | -0.07 | -0.35 | -0.40 | -0.41 | -0.37 | -0.38 |
1 MO | 3 MO | YTD | 1 YR | 3 YR | 5 YR | 10 YR |
LIFE 07/12/11 |
|
---|---|---|---|---|---|---|---|---|
XMPT (NAV) | -2.31 | 5.94 | -23.76 | -23.76 | -3.94 | 0.07 | 2.07 | 3.65 |
XMPT (Share Price) | -2.28 | 5.78 | -24.02 | -24.02 | -3.97 | 0.09 | 2.12 | 3.65 |
CEFMXTR (Index) | -2.28 | 6.06 | -23.46 | -23.46 | -3.64 | 0.39 | 2.40 | 4.03 |
Performance Differential (NAV - Index) | -0.03 | -0.12 | -0.30 | -0.30 | -0.30 | -0.32 | -0.33 | -0.38 |
Top 10 Holdings (%) as of 02/28/23
Daily HoldingsHolding Name |
Ticker
|
Shares
|
Market Value (US$) |
% of Net Assets |
---|---|---|---|---|
Nuveen Quality Municipal Income Fund |
NAD US
|
1,240,095
|
13,963,470 | 7.86 |
Nuveen AMT-Free Municipal Credit Income |
NVG US
|
1,184,048
|
13,924,404 | 7.84 |
Nuveen AMT-Free Quality Municipal Incom |
NEA US
|
1,279,054
|
13,762,621 | 7.74 |
Nuveen Municipal Credit Income Fund |
NZF US
|
975,991
|
11,448,374 | 6.44 |
Nuveen Municipal Value Fund Inc |
NUV US
|
946,960
|
8,437,414 | 4.75 |
Blackrock Municipal 2030 Target Term Tr |
BTT US
|
331,692
|
7,048,455 | 3.97 |
Blackrock Municipal Income Fund Inc |
MUI US
|
483,505
|
5,463,607 | 3.07 |
Blackrock Muniyield Quality Fund Inc |
MQY US
|
429,237
|
5,017,781 | 2.82 |
Blackrock Muniyield Quality Fund Iii In |
MYI US
|
405,831
|
4,427,616 | 2.49 |
Eaton Vance Municipal Bond Fund |
EIM US
|
424,974
|
4,236,991 | 2.38 |
Top 10 Total (%) | 49.37 |
Currency Exposure (%) as of 02/28/23
U.S. Dollar | 99.90 |
Other/Cash | 0.10 |